CCS Medical's Ch. 11 Plan Approved

Law360, New York (March 12, 2010, 7:23 PM EST) -- A bankruptcy court has approved a prepackaged Chapter 11 plan of reorganization for CCS Medical Inc., clearing the way for the medical device maker to emerge from bankruptcy.

The plan, signed Thursday by Bankruptcy Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware, has majority support from the company's second-lien lenders, which had initially opposed it. It should pull CCS out of Chapter 11 within weeks, the company said in a statement.

The plan lets CCS reduce its debt by more...
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